September 5, 2013 4:47 pm
Recently my brother deposited some amount in my bank account. Is this amount taxable?
depends on why he gave you that money..
Dear Rajan, this amount is not taxable.
Yes Manish, thanks for the correction. :).
Every rupee coming into your account (under your PAN) is accountable as your income.
Guys please correct me if i am wrong.
No Sunil . Its not like that . Not every rupee . It might happen that some thing has come as a GIFT or something has come as non-income like reimbursement for something .
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